• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home Business and Economics Business

“Bad” Brexit deal would threaten £80bn Jaguar Land Rover investment plans in UK

Another major business has signalled their fears for a Brexit deal that does not favour the UK. This time it is Jaguar Land Rover who has voiced concerns over the outcome of the UK withdrawal from the EU. The company is the UK’s largest carmaker and claim a Brexit deal could threaten £80bn investment plans […]

Joe Mellor by Joe Mellor
2018-07-05 10:02
in Business, News, Politics
FacebookTwitterLinkedinEmailWhatsapp

Another major business has signalled their fears for a Brexit deal that does not favour the UK.

This time it is Jaguar Land Rover who has voiced concerns over the outcome of the UK withdrawal from the EU.

The company is the UK’s largest carmaker and claim a Brexit deal could threaten £80bn investment plans for the UK, and may close factories, putting thousands of jobs at risk.

Last year, the company made more than 600,000 cars, 20% of which were sold to mainland Europe, one of its biggest markets.

The owner, India’s Tata Motors, wants to remain in UK claiming its “heart and soul is in the UK.”

However, that emotional link to the UK could be replaced by the harsh reality of the business landscape of the UK post-Brexit

Jaguar Land Rover has warned that a “bad” Brexit deal would threaten £80bn worth of investment plans for the UK and may force it to close factories.

RelatedPosts

Children suffering food poisoning because parents are turning off fridges to save money amid the cost of living crisis

More to come? First UK council declares ‘cost of living emergency’

Tory MP demands asylum centre isn’t built because residents not ‘safe to leave their homes’

PMQs 18th May – Bird crap on the PM as rest of us are left in the sh*t

Jaguar Land Rover chief executive Ralf Speth said: “A bad Brexit deal would cost Jaguar Land Rover more than £1.2bn profit each year.

“As a result, we would have to drastically adjust our spending profile. We have spent around £50bn in the UK in the past five years – with plans for a further £80bn more in the next five.

“This would be in jeopardy should we be faced with the wrong outcome.”

He told the Financial Times: “If I’m forced to go out because we don’t have the right deal, then we have to close plants here in the UK and it will be very, very sad. This is hypothetical, and I hope it’s an option we never have to go for.”

PB Balaji, chief financial officer at Tata Motors, said: “Jaguar Land Rover and Tata Motors have always maintained that the uncertainties from Brexit are avoidable and the business seeks clarity to ensure that industry takes timely and right decisions to manage the transition.

“Additionally, Jaguar Land Rover needs free and full access to the single market beyond transition to remain competitive which we also firmly believe is in the best long term interests of the United Kingdom.

“The recent statement from JLR only reaffirms this position that a Brexit which increases bureaucracy, reduces productivity and competitiveness of the UK industry is in no-one’s interest.”

 

The Tories will deliver a Brexit dividend – but not in the way you thought

British Chambers of Commerce issues red RAG ratings for business preparedness over Brexit

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

UK Weather forecast, Thursday 15 July 2021

Britain’s first professional black ballerina revealed racism she suffered – including rejection for being ‘brown swan’

Wales would vote to rejoin EU in referendum

Book Review: Conscious Robots – If We Really Had Free Will, What Would We Do All Day? By Paul Kwatz

‘I certainly broke no rules’, Quizmaster Johnson claims

Tories could face a wipe-out in key London local election battlegrounds

8 fantastic foodie experiences in Menorca

Preparing For the Ski Holidays Using The Classic Pro Skier Of NordicTrack

Hyundai Genesis – Quick verdict

This Tory is putting bill to make patients pay for NHS treatment before parliament today

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.